Despite the economy’s not-so-steady state at the moment, there still exists a large affluent market in America. According to a 2011 study performed by Ipsos Mendelsohn, there are about 58.5 million affluent adults in the U.S. and this market is very digitally charged. Find out more below…
Given our economy’s current state, you can’t assume that the affluent market is spending quite like they used to. In reality, this market is spending wisely on what they deem as quality products and services. Furthermore, the affluent market is one of the most digitized groups in America. Compared to the general population, the affluent market spends more time online and less time watching television:
Time Spent Online:
General (21.7 hours per week) versus Affluent (26.2 hours per week)
Time Spent Watching Television:
General (34 hours per week) versus Affluent (17.6 hours per week)
From this research, you can easily infer the affluent market is probably bombarded with online advertising all the time, so one of the best strategies to target this market is to focus on the value of your product and services. This quote from eMarketer’s Mark Dolliver really hones in on the fundamentals of targeting the affluent market:
“The vast majority of affluents do not regard themselves as rich, however, and don’t spend as if they were” (eMarketer).
Just because a consumer may make a substantial annual income doesn’t mean they’re ready and willing to buy your particular product or service on a whim. You need to show value and why your products and services fit their present needs.
How is your business targeting the affluent market online? Which online marketing channels have yielded the best results? Share your thoughts in a comment!
About Alan Moore: Alan is an Internet Marketing Consultant with ReachLocal Baltimore. His mission is to help you increase your revenues and decrease unproductive advertising expenses through proven, online marketing strategies. He manages over $1.4 million in annual marketing budgets and has worked with local businesses, agencies and the US government. Give him a call at (877)655-3438 to schedule a free consultation.
Looking for additional insight about the affluent market? Visit http://www.emarketer.com/Article.aspx?R=1008808